Dozens of infrastructure projects will be axed or delayed after a $33 billion cost blowout in the current infrastructure pipeline.
Funding for dozens of infrastructure projects will be axed or delayed by the Albanese government after a $33 billion blowout made the current pipeline and new projects “in the next 10 years” too expensive without major change.
The blowout represents a 41 per cent rise in the $80 billion 10-year federal budget allocation to the Infrastructure Investment Program, which Ms King accused the Coalition of failing to properly fund.States have committed to huge infrastructure pipelines in recent years, placing significant strain on the construction sector by soaking up workers and key materials, adding to inflation, blowing out budgets and causing delays.NSW, for example, committed to a record $112.
The review was not intended to reduce the overall infrastructure budget but instead create headroom to ensure projects that survived could be fully funded and finished, and other projects could be added. A spokeswoman for Ms King said it was about creating “a credible pipeline of work” into the future.
Funding to projects not yet commenced was paused pending the audit findings, sparking concern among state and local governments and giving the Opposition an opportunity to fan angst among affected communities.
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